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24 January, 14:06

What are the characteristics of an annual percentage rate. choose all that apply

it can change over time for certain kinds of loans, it's the interest charged each year for a loan, it requires the borrower to pay all the principal at once, it can be reduced to reflect the borrowers credit history, it has little impact on the amount the borrower must repay

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  1. 24 January, 15:35
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    Average Daily Balance = Total Daily Balances (Principal + Previous Day's Interest + New Purchases) / Number of Days in the Billing Cycle

    Daily Periodic Rate = APR / 365

    Interest Charges = (Average Daily Balance * Daily Periodic Rate) * Number of Days in the Billing Cycle
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